We’re an open book. Literally.
We believe in full transparency when it comes to our financial information. Here are Credit Union of New Jersey’s most recent financials for you to review:
| Assets | Total |
|---|---|
| Total Loans | $390,353,214 |
| Less: Allowance for Loan Loss | -$2,896,384 |
| NET LOANS | $387,456,830 |
| 1st Mortgages to be sold | $0 |
| Total Investments | $59,189,913 |
| TOTAL EARNING ASSETS | $446,646,744 |
| Total Cash | $5,040,594 |
| Total Fixed Assets | $7,664,507 |
| Total Other Assets | $19,496,992 |
| TOTAL NON-EARNING ASSETS | $27,161,499 |
| TOTAL ASSETS | $478,848,837 |
| Liabilities | Total |
|---|---|
| Total Shares | $402,808,650 |
| Notes Payable | $33,952,237 |
| Other Liabilities | $10,935,966 |
| TOTAL LIABILITIES | $447,696,853 |
| TOTAL EQUITY | $31,151,984 |
| TOTAL LIABILITIES AND EQUITY | $478,848,837 |
| Costs and Income | Current Month | Quarter-to-Date | Year-to-Date |
|---|---|---|---|
| INTEREST INCOME | |||
| Interest on Loans | $2,010,434 | $4,068,235 | $21,031,676 |
| Income from Investments | $131,347 | $215,847 | $1,151,733 |
| TOTAL INTEREST INCOME | $2,141,782 | $4,284,081 | $22,183,409 |
| INTEREST EXPENSE | |||
| Interest on Borrowed Money | $103,249 | $263,243 | $1,934,061 |
| Dividends | $388,856 | $746,279 | $2,502,251 |
| TOTAL INTEREST EXPENSE | $492,104 | $1,009,522 | $4,436,311 |
| NET INTEREST INCOME | $1,649,677 | $3,274,559 | $17,747,098 |
| Provision for Loan Losses | $271,220 | $424,448 | $3,834,913 |
| Provision for Negative Share Losses | $17,407 | $34,358 | $319,428 |
| TOTAL PROVISION EXPENSE | $288,627 | $458,805 | $4,154,340 |
| NON-INTEREST INCOME | |||
| Fee Income | $430,216 | $886,235 | $4,806,044 |
| Other Operating Income | $245,922 | $483,254 | $2,946,089 |
| TOTAL NON-INTEREST INCOME | $676,138 | $1,369,489 | $7,752,133 |
| NON-INTEREST EXPENSE | |||
| Employee Compensation & Benefits | $768,109 | $1,650,309 | $8,135,535 |
| Travel & Conference | $20,371 | $37,469 | $178,267 |
| Office Occupancy | $70,869 | $139,394 | $793,073 |
| Office Operations | $128,118 | $258,568 | $1,278,875 |
| Educational & Promotional | $35,594 | $75,613 | $410,173 |
| Loan Servicing | $287,006 | $575,767 | $3,145,282 |
| Professional & Outside Services | $463,609 | $873,929 | $5,163,081 |
| Member Insurance | $4,024 | $8,049 | $43,834 |
| Operating Fees | $6,738 | $13,476 | $74,119 |
| Miscellaneous | $97,134 | $197,358 | $567,656 |
| TOTAL NON-INTEREST EXPENSE | $1,881,572 | $3,829,931 | $19,789,894 |
| Net Non-Recurring Gain/(Loss) | $10,241 | $53,716 | $70,805 |
| NET INCOME | $165,858 | $409,028 | $1,625,801 |
Enjoy the freedom to prosper. If you have questions about our Financials, feel free to give us a call at 609.538.4061 or 800.538.4061, email us at memberservices@cunj.org or stop by one of our convenient branch locations.
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